NEWS
November 1, 2021
Tax Rates – Individuals | 22/23 | 21/22 |
Below UK higher rate income tax band | 10% | 10% |
Within UK higher and additional rate income tax bands | 20% | 20% |
Tax rate – Trusts and Estates | 20% | 20% |
Surcharge for residential property and carried interest | 8% | 8% |
Exemptions | ||
Annual exempt amount: Individuals, estates, etc. | £12,300 | £12,300 |
Trusts generally | £6,150 | £6,150 |
Chattels gain limited to 5/3rds of proceeds exceeding | £6,000 | £6,000 |
Business Asset Disposal Relief 10% on lifetime limit of £1,000,000 for trading businesses and companies (minimum 5% participation) held for at least 2 years |
PLEASE NOTE: By the very nature of this type of information the details of tax law might have changed since they were published, so contact your Barnes Roffe partner before acting on any matter contained in this document.
West London
3 Brook Business Centre,
Cowley Mill Road,
Uxbridge, UB8 2FX
T +44 (0) 1895 256423
East London
Leytonstone House,
Leytonstone,
London, E11 1GA
London, E11 1GA
T +44 (0) 20 8988 6100
South London
Charles Lake House, Claire Causeway, Crossways Business Park, Dartford DA2 6QA
T +44 (0) 1322 275335
London Bridge
1st Floor,
73–81 Southwark Bridge Road,
London, SE1 0NQ
73–81 Southwark Bridge Road,
London, SE1 0NQ
T +44 (0) 20 3814 9990
City London
46 New Broad Street,
London, EC2M 1JH
London, EC2M 1JH
T +44 (0) 20 3890 7360
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PLEASE NOTE: By the very nature of this type of information the details of tax law might have changed since they were published, so contact your Barnes Roffe partner before acting on any matter contained in these documents.
